Coca-Cola Europacific Partners (NASDAQ:CCEP) Upgraded to Strong-Buy at Wells Fargo & Company

Coca-Cola Europacific Partners (NASDAQ:CCEP) was upgraded by equities research analysts at Wells Fargo & Company to a “strong-buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Other analysts have also issued reports about the stock. The Goldman Sachs Group upped their price objective on shares of Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Citigroup restated a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, February 19th. Weiss Ratings cut shares of Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. JPMorgan Chase & Co. increased their price objective on shares of Coca-Cola Europacific Partners from $89.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Finally, Evercore reissued an “outperform” rating and set a $112.00 price objective on shares of Coca-Cola Europacific Partners in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Coca-Cola Europacific Partners has a consensus rating of “Moderate Buy” and an average target price of $106.50.

Coca-Cola Europacific Partners Stock Up 1.7%

NASDAQ CCEP opened at $99.34 on Friday. Coca-Cola Europacific Partners has a 12 month low of $84.65 and a 12 month high of $110.90. The company’s 50-day moving average price is $94.56 and its 200-day moving average price is $94.51. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.80.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

Institutional investors and hedge funds have recently bought and sold shares of the company. Bayban purchased a new stake in shares of Coca-Cola Europacific Partners during the 4th quarter valued at $25,000. Annis Gardner Whiting Capital Advisors LLC grew its stake in Coca-Cola Europacific Partners by 407.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 355 shares of the company’s stock worth $32,000 after buying an additional 285 shares during the last quarter. Whipplewood Advisors LLC grew its stake in Coca-Cola Europacific Partners by 1,537.5% during the 1st quarter. Whipplewood Advisors LLC now owns 393 shares of the company’s stock worth $36,000 after buying an additional 369 shares during the last quarter. Quarry LP increased its position in Coca-Cola Europacific Partners by 59.1% during the 4th quarter. Quarry LP now owns 393 shares of the company’s stock valued at $36,000 after buying an additional 146 shares in the last quarter. Finally, 1248 Management LLC purchased a new stake in Coca-Cola Europacific Partners in the fourth quarter valued at about $38,000. 31.35% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Europacific Partners Company Profile

Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.

The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.